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Abu Dhabi National Oil Company (ADNOC) will accept stablecoin payments at nearly 980 gas stations across three countries.
Deep Tide TechFlow News, December 13th, ADNOC Distribution announced the signing of a memorandum of understanding with Al Maryah Community Bank to accept AE Coin stablecoin payments across nearly 980 service stations in the retail networks of the UAE, Saudi Arabia, and Egypt.
Customers can use AE Coin via Al Maryah Community Bank’s AEC Wallet to make payments at fuel pumps, Oasis by ADNOC convenience stores, and car wash services. AE Coin is the UAE’s first centrally bank-approved stablecoin, pegged 1:1 to the Dirham.
ADNOC Distribution CEO Eng. Bader Saeed Al Lamki stated that this move is an important step for the company to introduce secure, regulated digital payments into everyday retail. ADNOC Distribution operates 562 stations in the UAE, 172 stations in Saudi Arabia, and 243 stations in Egypt.